Take advantage of volatility using intraday trading scanners

Intraday trading can be a profitable approach to only if you are equipped with real-time analytics which assist your decision making. Trading is competitive to begin with. So in the absence of realtime analytics you can become extremely handicapped and unable find profitable opportunities. It’s the equivalent of trying to fight a war without weapons. Tracking all the stock fluctuations on your watchlist manually is practically impossible. You could feel frustated for having missed opportunities. Manual observation has the following disadvantages:
• Lack of processing capabilities
• Lack of multitasking ability as the data flow is immensely high
• Lack of Time and speed

In the intraday timeframe the opportunity window lasts only a few hours at max. So if you’re late to discover trading opportunities, you will miss the bus. At Fyers, we understand that traders in India have suffered primarily because of a lack of a good trading platform and features. This tool that I’m going to discuss will allow you to:
• Track stocks based on your bullish/bearish views
• Find opportunities in stocks with maximum intraday volatility
• Filter stocks based on Index, Industry groups etc.
• Get to know which stocks are moving most in different groups
• Filter based on several other criteria
• Get a pleasant visual interface

As mentioned before in another post, stock screeners can make your trading activity more efficient and fruitful if used the right way. We are focusing extensively on giving traders tools like these that matters most to their profit and loss account. With the most advanced features available in comparison with any other trading platform in India, I strongly recommend you try it out.

Click on “Tools” in the main menu and select Intraday Recovery/Fall as shown in the image.

Intraday Recover/Fall – When you arrive here, you can see that you can track stocks which have had:
• Highest Recovery
• Highest Fall

These results depend on which index you select. In the example above, we have chosen Nifty 50. But you could choose from over 30 different stock indices, above 18 different industry groups and underlying F&O Scrips. As you can see, it is very easy to track the Intraday Recovery and fall based on the the maximum moves in scrips.

How to use this for intraday trading?

Let’s say that you are bullish on the stock market and looking for opportunities to buy large stocks which have potential for a large intraday move in the in the Nifty 50. You can immediately get a list of stocks which have so far had a large move. So for example, you can now immediately analyze stock trends of:
• Adani Ports
• GAIL
• Bharti Airtel
• ONGC
• M&M etc.

You can further drill down to find intraday trading opportunities in these stocks by taking a look at their individual stock charts, check their support and resistance levels, add indicators like RSI, Stochastics, MACD, Bollinger Bands etc. and use your method for technical analysis of stocks which are shortlisted. Likewise, if you have a bearish view on the stock market, you can find opportunities to go short on the stocks which will show up based on your selection of the index.

Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.

Hello Tejas !
In tool box, there is margin calculator for equity futures and currency futures but there is no margin calculator for intra day equities. I do intra day trading in equities (mostly nifty 50). So, how can I know on which stock you provide how much leverage ?

Hi, thanks for reminding us to make it. Once we finish up with our current stream of developments we’ll take that up and finish it. Currently, you can either call us on 080-46251111 or write to us on support@fyers.in.

Tejas, why don’t your replies appear adjacent to the respective comments ? It’s really painstaking to scroll up and down again and again just to know which comment your are replying to.
Please fix this ! Thank you 🙂

Is there a chance for a retail trader to make money by intraday trading in markets ? A retail trader can only learn from the things available on trading forums and books. You have been a professional trader yourself at futurefirst. What kind of things do they teach over there? Is it different from what it is available online and do they have some special tools available at their hands ?

Hi Varun, Thanks for writing. Well, many retail traders do make money. There is a perception by some that it is not possible to make money but that’s really not true. Even if you ask the ones who lost money, at one point they were profitable. Most of the time, the lack of discipline, temperament and greed gets them to act in an irrational manner. So it is very much possible. Futures First recruits young talent from the premier institutes (IIM, IIT, NIT, ISB etc.) and then trains them to be traders from scratch. I was one of the few exceptions to have been recruited from another background. They have a serious approach to the markets and risk levels are monitored at 2 levels everyday. One by your mentor and finally, the branch risk manager. There is continuous focus on learning, questioning, mentoring etc. When you spend 9 hours a day staring at the markets and figuring out ways to make money along with your team members, the odds increase.

It helps to be associated with profitable traders. Watching them execute trades differently int the same product that you trade is a huge learning experience. They do have tools like Bloomberg & Reuters terminals, Multiple screens, Price ladders, spread markets etc. but above all that, they have the mindset and structure to be profitable.

There are courses that can help. The ones on NISM are useful. Professional courses like CMT & CFA are immensely useful too. But the important thing to understand is that more than the courses, its your trading skills that you’ll have to develop. Focus on money management and getting your hit rate right.

I was told by an executive @ indiainx, is that these newly introduced pairs(eur-usd, gbp/usd, usd/jpy) can be traded from the starting of japan market opening till the closing of US market, which collectively comes around 22hours per day(divided in to two sessions). but iths circular mentions it can be traded only in indian market hours. Confused.

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